SOLUTION: in a certain card game you draw one card off a standard deck of 52 cards. If you draw a spade you get paid $12, if you draw a red Ace you get paid $20, and if you draw a red Quee

Question 1192936: in a certain card game you draw one card off a standard deck of 52 cards. If you draw a spade
you get paid $12, if you draw a red Ace you get paid $20, and if you draw a red Queen you get
paid $38. If you draw anything else, you get paid nothing. What should this game cost if it is to
be a fair game? Use fractions in your work and then calculate the answer as a decimal rounded
to 4 decimal places.
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
spade has probability of 1/4, and 1/4*$12=$3.
red ace has probability of 1/26, and 1/26*20=$20/26
2 red queens, so get $38/26 from (1/26)*38
The amount the game should cost is $3+$20/26+$38/26=3+58/26=$5.2308

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